Midday Report: Wynn Suffers Sales Slump; Stocks Inch Higher

Stocks were slightly higher in midday trading Friday and on track for their third straight weekly gain.

Stocks were slightly higher in midday trading Friday and on track for their third straight weekly gain. Markets have rallied on signs weaker data could push a Federal Reserve rate hike out to 2016. General Electric (GE) boosted the Dow after besting quarterly earnings estimates. Wynn resorts (WYNN) slumped following a disappointing third quarter. The casino operator reported a nearly 30% drop in revenue, driven by weaker sales in key gambling destination Macau. Consumer sentiment bounced higher in October, according to a preliminary reading from the University of Michigan. Consumers appeared to have recovered from fears over the global economy and market instability. Video-streaming site Youku Tudou (YOKU) surged more than 20% after Alibaba (BABA) offered to buy out the rest of the company it doesn't already own.